Two-Story Mixed-Use
For Sale
Contact for pricing
300-306 Elati St., Denver, CO 80223
Fully occupied by two complementary commercial tenants serving daytime and evening customers.
Property Size5,939 SF
Price / SF$269.41
Days on Market16
Property Features for 300-306 Elati St.
General Information
Standard status
Active
Size
5,939 SF
Property subtype
Mixed Use
Zoning
U-MX -2
Occupancy
100%
Net Operating Income
$104,185
Building Details
Year Built
1936
Year Renovated
2005
Buildings
1
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
NORTHPEAK Commercial Advisors
(720) 738-1944
Listed By:
Scott Fetter · License #CO
Source:
Crexi
Added: Jul 27
Changed: Aug 4
Last Checked: Aug 11 at 6:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NORTHPEAK Commercial Advisors
Investment Insights
Based on property information with market context.
Located at 300–306 Elati St. in Denver’s Baker neighborhood, this 5,939-square-foot mixed-use building extends across two stories and retains original architectural detail. Constructed in 1936, the property underwent a substantial renovation in 2005, including updated building systems and interior improvements. The property is fully leased to two complementary commercial tenants, creating distinct daytime and evening customer activity along the corridor.
The building is positioned south of the Denver Health Medical Campus and near Downtown Denver. Zoning is U-MX -2, supporting its mixed-use classification within an established urban neighborhood. The combination of two-story commercial space, updated systems, original character, and current occupancy defines the property’s existing configuration.
The building is positioned south of the Denver Health Medical Campus and near Downtown Denver. Zoning is U-MX -2, supporting its mixed-use classification within an established urban neighborhood. The combination of two-story commercial space, updated systems, original character, and current occupancy defines the property’s existing configuration.
Key Highlights
- 5,939‑square‑foot mixed‑use building across two stories
- 1936 construction with original architectural detail
- 2005 renovation included updated systems and interior improvements
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$83,651
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,673,020
$1.7M
Cap Rate 7%
$1,195,014
$1.2M
Cap Rate 9%
$929,456
$929.5K
Market Conditions
NOI Build-Up for 5,939 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$142.5K $24.00/SF
− Vacancy
−$8.7K −$1.46/SF
EGI
$133.8K $22.54/SF
− OpEx
−$50.2K −$8.45/SF
NOI
$83.7K $14.09/SF
Area
Denver, CO
Vacancy
6.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,673,020
Cap Rate 7%
$1,195,014
Cap Rate 9%
$929,456
Alternative Uses
Best Use
Mixed Use
$1.20M
$1.05M – $1.39M
NOI $83,651 @ 7.0% cap · market cap 5.23%
Second Best
Retail
$1.16M
$1.02M – $1.35M
NOI $81,298 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$1.89M
$1.65M – $2.21M
NOI $132,342 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,608
Businesses Nearby
97k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Shops & Services 41%
Apparel 6%
Hotels & Casinos 4%
Punch Bowl Social
Dining
21,446 visits/mo
0.4 miles
Sinclair
Shops & Services
10,475 visits/mo
0.4 miles
Santiago's
Dining
10,185 visits/mo
0.4 miles
Dunkin' Donuts
Dining
7,759 visits/mo
0.4 miles
Conoco
Shops & Services
7,163 visits/mo
0.4 miles
Demographics for 80223, CO
19,862
Population
9,532
Households
2.1
Avg Household Size
34
Median Age
46%
College-Educated
87%
High-School Grad
5.3 sq mi
ZIP Area
3,748
Density / Sq Mi
$80,461
Median Household Income
$50,567
Median Earnings
$1,650
Median Rent
$497,900
Median Home Value
Market
Vacancy Rate% for Retail in Denver, CO
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied by two complementary commercial tenants serving daytime and evening customers.
Where is this mixed-use property located?
The property is located at 300-306 Elati St. Denver, CO.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 5,939‑square‑foot mixed‑use building across two stories; 1936 construction with original architectural detail; 2005 renovation included updated systems and interior improvements
